SiGMA Europe drives €100M boost to Malta’s tourism economy in 2024

David Gravel November 1, 2024

SiGMA news

Ever since visionary entrepreneur Eman Pulis founded SiGMA in 2014, it has become a leading presence in the gaming, FinTech, and emerging technology sectors, renowned globally for its groundbreaking approach and industry leadership. As a premier organiser of large-scale conferences, SiGMA creates vital platforms for industry stakeholders to network, collaborate, and showcase innovative advancements. The annual SiGMA Europe conference held in Malta has solidified its position as a must-attend event for professionals worldwide, underscoring its transformative impact. Beyond industry excellence, SiGMA’s influence on Malta’s economy is undeniable. The SiGMA Europe 2024 conference alone will contribute over €100 million to Malta’s tourism revenue, approximately 3.3% of the national total. According to a 2022 report by E-Cubed Consultants, the SiGMA event stimulates enough economic activity to support around 950 jobs across various industries for a year. With 27,000 delegates expected this year, the impact is likely to grow, reinforcing SiGMA’s role in fostering both economic and employment growth on the island.

Expanding the event from 1,500 delegates in 2014 to 27,000 in 2024 demonstrates SiGMA’s substantial influence on Malta’s economy, particularly within tourism and related sectors. This growth comes as Malta’s tourism board projects revenue to surpass in 2024, a testament to SiGMA’s role as a key driver of the island’s economic landscape.

A catalyst for economic growth and job creation

SiGMA Europe has proven itself a cornerstone for Malta’s economy, contributing not only to tourism revenue but also to the island’s overall economic development. With 1,000 sponsors and exhibitors and 550 speakers, the SiGMA Europe 2024 conference will surpass previous records in economic impact, driven by increased participation and higher spending per delegate. Local businesses, especially in gaming services, hospitality, and retail, benefit greatly from this influx. Hotels experience a surge in occupancy, and restaurants enjoy higher patronage, underscoring the interconnectedness of these sectors. Prime Minister Robert Abela underscored SiGMA’s vital role, noting that the gaming sector contributes 9.2% in added value to Malta’s economy. His recognition emphasises SiGMA’s strategic importance in supporting Malta’s long-term economic stability and growth, reinforcing its standing as an invaluable asset to the national economy.

Boosting Malta’s off-peak season

SiGMA Europe’s timing in November, a traditionally off-peak season for Maltese tourism, further amplifies its economic impact. The influx of around 27,000 delegates is forecasted to raise the occupancy rates of four- and five-star hotels by over 20% compared to typical levels for this period. This surge extends beyond hotels to restaurants, shops, taxis and other local services, all of which benefit from the increased patronage of SiGMA attendees. In an interview at the recent iGathering Dinner, “Connect with Red,” in Valletta, Antonella Aquilina from Visitmalta Incentives & Meetings at the Malta Tourism Authority discussed SiGMA’s powerful impact on tourism. She reflected, “We supported SiGMA from the very start. We always believed in the product and the idea behind it. What we have seen is growth in terms of the potential, the quality, and the event in itself. SiGMA is an organisation meticulous in their planning. A successful, well-known event across the globe, so we are very proud to support it.” SiGMA’s strategic timing revitalises Malta’s hospitality and retail sectors, providing essential revenue for local businesses during a quieter period. This seasonal uplift underscores the importance of events like SiGMA in maintaining a robust and diverse economy for Malta, helping foster growth and resilience. Moreover, the event also draws thousands to witness the stunning beauty of ‘the sunniest nation in Europe,’ adding to the island’s cultural appeal and high-quality repeat visitors.

SiGMA Europe 2024 expanded program and highlights

The SiGMA Europe 2024 conference promises a diverse agenda designed to boost networking, showcase innovation, and celebrate Maltese culture. With an expected attendance of 27,000 delegates, the event features many networking opportunities, including specialised conferences, interactive workshops, and engaging activities around Malta that foster collaboration.

Exhibitions and conferences will showcase the latest advancements in iGaming and technology, offering attendees a direct link to industry leaders and innovators, potentially creating future partnerships. Delegates can also immerse themselves in Malta’s rich heritage through organised tours and social events, enhancing their experience on the island. Highlights include the international artist auction, supporting SiGMA Foundation charitable initiatives, the SiGMA Pitch competition for startups, and the B2B awards, recognising excellence within the industry.

To meet the rising demand from attendees and exhibitors the event has introduced a fourth ‘shed’ at the Mediterranean Maritime Hub (MMH), underscoring its rapid growth and cementing its status as a top event in gaming and tech. This year, SiGMA has worked closely with Transport Malta to improve traffic management, ensuring smoother access for both attendees and locals. Eman Pulis, SiGMA’s founder, explained, the SiGMA Fair also supports Malta’s economy in ways that extend beyond the conference itself. “Business involves big millions of euro which is discussed on these stands by over 1,000 exhibitions and foreign sponsors. This augurs well because these companies, which come to Malta, are aware of the eco-system and it isn’t the first time that a company attending the SiGMA Fair opened office in Malta.”

Broader impact on emerging technologies and key sectors

SiGMA’s influence extends beyond the gaming industry, significantly impacting sectors like FinTech, artificial intelligence (AI), and blockchain technology. By providing a platform for discussions and partnerships, SiGMA drives advancements in these areas, positioning Malta as a key tech hub in Europe. The conference showcases the latest trends in AI, blockchain, augmented reality (AR), virtual reality (VR), and the Internet of Things (IoT). For example, companies demonstrate innovations in AI to improve customer experiences and operational efficiency in the gaming industry. Similarly, discussions on blockchain technology promote secure transactions and transparency, essential for online gaming’s evolution. Sectors such as esports, information and communication technology (ICT), corporate services, and digital marketing also benefit from SiGMA’s presence. These industries gain visibility and networking opportunities, which support local job growth. SiGMA’s collaborative environment encourages both startups and established companies to connect, creating synergies that enhance Malta’s economic growth and innovation.

Global expansion and long-term growth plans

SiGMA’s reach will expand significantly in 2025, with events planned for Dubai, Cape Town, Colombo, São Paulo, Manila, and Budapest. Each of these cities acts as a strategic entry point into important gaming and tech markets, strengthening their global presence. Across SiGMA’s 2024 events, an impressive 51,000 delegates gathered thus far, marking a substantial increase in global reach and influence and reflecting a 32% year-on-year growth. This global expansion not only cements SiGMA’s role in the worldwide gaming industry, but also boosts Malta’s reputation as a leading iGaming hub. SiGMA’s events drive connections and investments that ultimately benefit Malta, attracting further international interest and investment to the island. With continued growth in attendance and a focus on emerging tech, SiGMA’s global strategy promises to amplify economic impact and support ongoing advancements in the gaming sector. SiGMA’s 2024-2025 plans reflect its commitment to growth, positioning both the organisation and Malta at the heart of the dynamic iGaming and emerging tech industries.

SiGMA has grown from a visionary concept into a driving force in the gaming, FinTech, and tech sectors, acting as a catalyst for Malta’s economic growth and job creation. Its flagship event, SiGMA Europe, not only strengthens the local economy but also cements Malta’s status as a leading global hub for iGaming and innovation.